I-T raids TataFin ex-chiefs
residence
Mumbai:
The income tax department on 19 December carried out searches at the city
residence of former Tata Finance managing director Dilip S Pendse, who was
sacked in July along with four other senior officials for allegedly carrying
out unaccounted transactions.
The department also raided the
premises of Pendses associates in the city. I-T sleuths carried out searches
at 20 premises in the city and adjoining Thane belonging to the ex-TataFin
chief and his associates. At least 18 bank lockers were sealed, and documents,
cash, foreign currency and jewellery were also seized in the raid, which was
still continuing.
TataFin had charged Pendse with diverting funds worth Rs 80 crore to the
company subsidiary Nishkalp Investment and Trading Company, which was
controlled and managed by him before he was sacked from TataFin.
TataFin had also lodged a complaint with the economic offences wing of the
Mumbai police against him for misusing his position and breach of trust while
granting inter-corporate deposits to Nishkalp. Its FIR accused him of cheating,
account falsification, forgery and criminal breach of trust.
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